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Monforte del Cid is a small town of about 8,000€ people at 23 km from Alicante city and 26km. from Alicante-Elx airport. The town's economy is based on the grape cultivation, marble industry and traditional and artisanal industry of the production of aniseed and liqueurs.
Property Features
- 0 bedrooms
- 0 bathrooms
Costing Breakdown
* Transfer tax is based on the sale value or the cadastral value whichever is the highest.
** The information above is displayed as a guide only.
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* The information above is provided by The MHI Group and displayed as a guide only. Individual circumstances could change the rate we offer for a mortgage. Please click the link below to get a personalised quote.
Spanish Property News & Updates by Spain Property Portal.com
In Spain, two primary taxes are associated with property purchases: IVA (Value Added Tax) and ITP (Property Transfer Tax). IVA, typically applicable to new constructions, stands at 10% of the property's value. On the other hand, ITP, levied on resale properties, varies between regions but generally ranges from 6% to 10%.
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In Spain, mortgages, known as "hipotecas," are common, and the market has seen significant growth and evolution.